The Italian bank said it expects a 13% fall in eurozone gross domestic product for 2020

UniCredit said on April 22 that it would take an additional €900m ($976m) in generic loan loss provisions in the first quarter of 2020 as it anticipates the IFRS9 macroeconomic scenario update.

The Italian bank said it expects a 13% fall in eurozone gross domestic product for 2020, with a 10% recovery in 2021, assumptions which include the projected impact of the coronavirus pandemic.

UniCredit to put aside an extra €900m against bad loans

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UniCredit

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